Investment

Deputy Prime Minister Le Van Thanh has asked the Ministry of Transport and relevant ministries and localities to study a project proposed by Bac Ninh province to build a 10.3-km stretch of the projected Bac Ninh - Pha Lai Expressway. The stretch, which has total investment of VND4 trillion ($171.67 million), when completed, will link Hanoi’s projected Ring Road No. 4 with National Highway No. 18. This is also a key route linking major industrial chains in northern Bac Ninh province together and with industrial chains in neighboring Bac Giang province.

According to a draft Resolution from the 15th National Assembly on piloting a number of specific mechanisms and policies for the development of Khanh Hoa province, investment policies will be approved for airport and port projects with capital of VND2.3 trillion ($98.5 million) or more in the Van Phong Economic Zone. The province will also pilot specific mechanisms on land management in this area.

Transport infrastructure in the Mekong Delta is underdeveloped compared to the rest of the country and needs be prioritized to promote development. The Ministry of Transport (MoT) has therefore planned that, by 2050, expressways in the Delta will stretch 1,180 km and account for 14 per cent of the country’s total.

In order to create growth momentum, central Da Nang city will organize a series of events in June on economic activities, investment, and trade, of which the most prominent is the Danang Investment Forum 2022, to be held on June 25. At the Forum, the city will announce progress in adjusting the functional zoning plan under Da Nang’s general planning adjustment project to 2030 and vision to 2045, approved by the Prime Minister, projects calling for investment, and land funds calling for investment, etc.

Along with the opening of two new offices in Hanoi and Ho Chi Minh City, Golden Gate Ventures (GGV) signed a cooperation agreement on May 30 with the National Innovation Center (NIC) to promote the development of Vietnam’s startup and innovation ecosystem. Together with Singapore and Indonesia, Vietnam is considered part of the “Golden Triangle of Startups” in Southeast Asia.

At a recent meeting to review disbursement in public investment projects, Minister of Transport Nguyen Van The said that project management boards and investors need to focus on determining disbursement needs in each project and summarize plans every month.